Bloomberg News

S&P 500 Rebounds After Plunge as Consumer, Health Shares Advance

June 21, 2013

U.S. stocks rose, recovering from early losses, as consumer staples and health-care companies led the market higher following the worst plunge for the Standard & Poor’s 500 Index in 19 months.

The S&P 500 added 0.2 percent to 1,591.86 at 1 p.m. in New York after losing 0.7 percent earlier and plunging 3.9 percent in the previous two days as Federal Reserve Chairman Ben S. Bernanke said the central bank may begin to reduce bond purchases this year if risks to the economy continue to abate.

Stock trading may be more volatile than usual today as futures and options contracts expire in a process known as quadruple witching. Trading volume for S&P 500 stocks was 85 percent higher than the 30-day average at this time of day.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


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